The global Fruit Snacks Market is expected to be valued at USD 10.87 Billion in 2028 from USD 5.38 Billion in 2020, registering a CAGR of 9.5% through the forecast period. The market is poised to observe a significant growth in the forecast timeframe owing to the escalating requirement of nutritional and healthy snacks and the growing population of health-conscious consumers. The increasing trend of on-the-go, ready-to-eat, and convenience foods is projected to add traction to the market growth.
Fruits snacks are highly popular among the younger generation and children owing to the easy-to-eat attribute with taste closely resembling candies. The products are often packed in sustainable plastic packaging that does not require refrigeration or storage. The growing expansion of the R&D activities by the key manufacturers to introduce gluten-free and sugar-free fruit snacks to cater to a larger health-conscious population is contributing to the market expansion. The growing levels of disposable income, increasing purchasing power of the consumers, and the growing trend of fruit snacks are further fueling the market growth.
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However, there is a lot of controversy surrounding the nutritional content or value of the sugar in fruit snacks. The implementation of a strict regulatory framework by the government that restrains the manufacturers from labeling the sugar-containing fruit snacks as nutritional or healthy can impede the market growth in the projected timeframe. Other limiting factors such as preservation and shelf-life of the products can also restrict the expansion of the market over the projected timeframe.
Prominent players of the market include Nutty Goodness, Welch’s, Mount Franklin Foods, LLC, SunOpta, PepsiCo, General Mills Inc., Chaucer Foods Ltd., Kellogg NA Co., and Crispy Green Inc., among others.
For the purpose of this report, Reports and Data has segmented the global Fruit Snacks Market on the basis of product type, fruit, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Sweet & Savory
- Cuts and Slices
Fruit Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retailers
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Highlights from the Report:
- The sweet and savory segment is forecast to register a significant growth rate in the estimated timeframe owing to the growing inclination towards processed and convenient foods, increasing trend of snacking among kids, and introduction of attractive products such as gummy bears.
- Based on the fruit type, the mixed fruit segment is projected to occupy a sizeable share of the market attributable to their extensive usage in puddings, jams, smoothies, and juices. The growing demand for flavored food products is further fueling the segment’s growth.
- The increasing availability of a large variety of products on the shelves of the supermarket and the incorporation of technologically advanced equipment in the supermarkets and hypermarkets is projected to bolster the growth of the supermarkets and hypermarket segment over the estimated timeframe.
- Asia Pacific is projected to record a significantly high CAGR of 10.6% through the estimated timeframe accrediting to the rapid expansion of the industry in the region owing to the soaring levels of expendable income, escalating health-conscious populace, and the augmenting apprehension about the advantages of fruit snacks among the consumers.
Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Fruit Snacks market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures regional analysis to provide insight into recent trends and opportunities
Table Of Content:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
Chapter 3. Fruit Snacks Market Variables, Trends & Scope
3.1. Market Introduction
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
Chapter 10. Company Profiles
10.1. Sunkist Growers Inc.
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Strategic Initiatives
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Strategic Initiatives
10.3. General Mills Inc.
10.3.1. Company Overview
10.3.2. Financial Performance
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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